Reddit is making a significant move into the sports marketing arena with the announcement of new partnerships with several major sports leagues. The platform has joined forces with the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB), PGA Tour, and NASCAR.
As part of these partnerships, Reddit users will have access to an array of engaging content, including video highlights from games and tournaments, player AMAs (Ask Me Anything sessions), behind-the-scenes footage, and other exclusive materials shared by these leagues throughout their respective seasons and key events.
The platform boasts over 1,000 active communities dedicated to sports, and interest in these forums has surged, with screenviews of sports-related content rising by 26% in the past year.
The sports marketing sector is projected to expand over 20%, reaching a value exceeding $55 billion by 2030, as fans increasingly turn to platforms like YouTube, Facebook, and X (formerly Twitter) for sports content.
To bolster its revenue ahead of a potential IPO, Reddit previously secured a $60 million annual AI licensing agreement with Google in February. Following the announcement of its new partnerships in the sports domain, Reddit shares experienced a nearly 7% increase.
Here are some key statistics:
– Number of sports-related Reddit forums: 1,000
– Screenviews on sports-related forums over the past year: 20.4 billion
– Monthly engagements (posts, votes, comments) in sports subreddits worldwide: 249 million
– Estimated value of the sports marketing sector by 2030: $55 billion
– Reddit’s first-quarter revenue: $243 million